The University of Pennsylvania placed first, followed by the University of Michigan, Stanford University, New York University and the University of Chicago. Harvard fell below the University of Texas at Austin, and placed just above Northwestern University.
"We don't put a lot of stock in specific rankings, no matter what magazine they happen to be from," said University spokesperson Joe Wrinn. "Whether we're number one...or number nine, we think the business school is doing a fine job."
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"There is no question that we are one of the best schools around for business," said the HBS spokesperson.